During the Twitter attack, scammers posing as celebrities falsely informed users that they had to marry a mysterious organization called “CryptoHealthFor” to “give back to their community.” The scam was widely covered through various media outlets, adding Forbes participants such as Jasse Damiani, who reviewed the initial steps without delay after the hack.
While various celebrities shared and shared those posts, which turned out to be fraudulent, some of their subscribers made the decision to open their own wallets and also pay. More than $130,000 later, the maximum messages had been removed, the CryptoForHealth online page was closed. Twitter has intervened to prohibit some users from tweeting, however, it’s time to recoup patients’ budget or at least specify which exchanges they were sent to.
Despite a non-unusual misperception that Bitcoin represents a pseudo-anonymous network, transactions made on it are visual to the general public and can be tracked. Addresses can be connected to quick exchanges.
While scammers still move the budget between cryptocurrency wallets, researchers around the world have intervened to identify the exchange and freeze the budget in other accounts.
Since the initial review, it is transparent that a giant portion of the budget was transferred to Binance. In a recent TechCrunch report, Binance’s security team informed them that they were aware of the scenario and introduced an investigation, which is visual to the cryptographic network, as their team called several cryptocurrency wallets fraudulent.
Earlier in the day, an article published through Cointelegraph revealed that the addresses used through hackers were connected in the past with Coinbase and BitPay, non-unusual names in cryptocurrency exchange and the trading sphere.
“According to our initial analysis, the budget reached many exchanges, however, the core of the budget came here from most of Binance. It is now transparent that the criminals sent the budget among other layers of cryptocurrencies to confuse law enforcement, for h. Once completed, the scammers returned sent much of the budget to deal with the property through Binance, who discovered and reported temporarily through the exchange.
However, in addition to Binance, it turns out that several exchanges, such as Bittrex, have already earned a budget for this scam. A blank wallet of cryptocurrencies faced cash sent to the Bitcoin Market in Brazil, even before the scam took position, now it has also been linked to the system. However, there is no explanation for why the fraudulent cash was transferred to the exchange itself. Said Sven Martinsson, founder and CEO of VALEGA Chain Analytics, a blockchain research and research company founded in Finland.
Even if research remains new, due to the transparency of Bitcoin’s open blockchain, it is imaginable to track other transactions to another account on cryptocurrency exchange platforms. As they personally participate in one of these “encryption exchange platforms,” competent and motivated compliance team members have a portfolio of equipment and processes to prevent such transactions if identified. Scammers seem to know that there is a race for scammers to check to exchange the budget for fiat currencies as soon as possible and Blockchain researchers mark as many wallets as temporarily as possible to freeze the budget.
Although the identity of fraudsters is still unknown, there are teams in position to view transactions among other accounts and exchanges that they publicly use to become aware of and attach wallets to cryptographic exchanges.
Here are some examples of how scammers planned to hide their fingerprints. It all starts on the left side of the chart, which is the first answer that scammers have asked users to pay. Each additional line of related problems represents your effort to hide your footprints and combine the budget between other portfolios and exchanges.
A more complete description located below each symbol representing a print screen of the Blockchain analysis software.
Approaching other problems allows us to see directly the handling of the cryptocurrency wallet that has been used. You are connected to a specific portfolio provider or platform (with strong certainty but not the largest). To review where the budget was headed and how much was sent.
Research conducted through compliance groups takes time because they are maximum maximums likely performed through other people who paint for other exchange platforms or geographic areas, so that the budget can be transferred to an account before being reported as fraudulent. Red accounts have already been marked as fraudulent.
After each transaction and the Spider Internet connects between cryptocurrency addresses, it can detect an era that scammers will verify with a transparent budget with a valid exchange. As noted below, scammers have already introduced a move to MercadoBitcoin in Brazil, as well as to Bittrex.com.
This review is just a snapshot of the existing prestige of transfers made through scammers on the afternoon of July 17. It does not demonstrate the lines in its entirety to avoid obstructing justice or investigations. Even if it’s a Twitter hack and not a Bitcoin hack, bitcoin’s pseudo-anonymity and visibility of both transactions with computers like Portfolio Explorer proves that the Crypto network is not powerless and knows more and more with both transactions. scammers perform. It is vital to note that it was not Bitcoin that hacked, but Twitter. Bitcoin only the selected means of payment.
Sven will publish a loose survey collected about who can identify as a researcher in the process.
Warning:
The transaction investigation is ongoing. For security reasons and not to interfere with investigations, this is just a step forward to review the other tactics of criminal networks. Exchanges in have the right means to continue to comply and report accordingly. This is NOT an attempt to defame or point the finger and the statements are assumptions, not yet evidence. There remains a survey visualization that has affected many users and account holders on Twitter.
For transparency purposes – The contributor of this post is a Head of Compliance in one of the leading Cryptocurrency Exchanges in the Nordics called ‘Safello’.
He is an advisor to the Board of Directors of Valega Chain, whose team has submitted an investigation to track the stolen budget at your request. Statements on how the paintings of blockchain research teams were made in the Valega Chain Analytics example and will not be generalized to other blockchain research teams, as they all have their own criteria, equipment and internal processes.
I on topics on the intersection between data systems, Fintech, Insurtech, Crypto-currency, Blockchain – Distributed Ledger Technologies (DLT),
I’ve specialised in the topics on the intersection between Information Systems, Fintech, Insurtech, Cryptocurrency, Blockchain – Distributed Ledger Technologies (DLT), Regulations, as well as other innovations in finance. I contribute to reports and articles dedicated to financial technologies such as the high-profile 2018 Stockholm FinTech Report, co-authored in the book ‘The Rise And Development of FinTech’ and the 2017 InsurTech and RegTech report ‘The Next Wave of FinTech’. I have been working in executive positions for FinTechs in the field of Equity Crowdfunding, Cryptocurrency and Lending developing their business abroad. Sweden is my seventh country of residence.